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President Donald Trump’s administration will keep the money generated from the sale of Venezuelan oil across multiple bank accounts, the largest of which is located in Qatar, according to a report.
Senior officials told Semafor that the U.S. has now completed its first sale of the South American country’s oil in a deal worth $500 million.
They justified the decision to hold some of the proceeds in the Gulf state, rather than in U.S. banks, by pointing out that it is a neutral location from which the funds could be freely and safely moved without risk of seizure.
Massachusetts Sen. Elizabeth Warren, the ranking Democrat on the Senate Finance Committee, hit out at the strategy and said: “There is no basis in law for a president to set up an offshore account that he controls so that he can sell assets seized by the American military.
“That is precisely a move that a corrupt politician would be attracted to.”
www.independent.co.uk
Senior officials told Semafor that the U.S. has now completed its first sale of the South American country’s oil in a deal worth $500 million.
They justified the decision to hold some of the proceeds in the Gulf state, rather than in U.S. banks, by pointing out that it is a neutral location from which the funds could be freely and safely moved without risk of seizure.
Massachusetts Sen. Elizabeth Warren, the ranking Democrat on the Senate Finance Committee, hit out at the strategy and said: “There is no basis in law for a president to set up an offshore account that he controls so that he can sell assets seized by the American military.
“That is precisely a move that a corrupt politician would be attracted to.”
Trump is sending funds from Venezuela oil to a bank in Qatar: report
Senior officials claim Gulf state provides neutral location to store proceeds from which they can be moved safely and without risk of seizure
www.independent.co.uk
